Affairs of the AssociationFinancial ReportIVIE & MIXONCertified Public AccountantsTo the MembersTexas State Historical AssociationIndependent Auditor's ReportWe have audited the accompanying balance sheets of the Texas StateHistorical Association as of August 31, 1989, and the related statementsof support, revenue, and expenses and changes in fund balances forthe year then ended. These financial statements are the responsibilityof the Association's management. Our responsibility is to express anopinion on these financial statements based on our audits.We conducted our audits in accordance with generally accepted au-diting standards. Those standards require that we plan and performthe audit to obtain reasonable assurance about whether the financialstatements are free of material misstatement. An audit includes exam-ining, on a test basis, evidence supporting the amounts and disclosuresin the financial statements. An audit also includes assessing the ac-counting principles used and significant estimates made by manage-ment, as well as evaluating the overall financial statement presentation.We believe that our audits provide a reasonable basis for our opinion.In our opinion, the financial statements referred to above presentfairly, in all material respects, the financial position of the Texas StateHistorical Association as of August 31, 1989, and the results of its oper-ations for the year then ended in conformity with generally acceptedaccounting principles.Austin, TexasDecember 15, 1989

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